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Definition
| the commonsense science of choices |
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| imaginary unit of satisfaction |
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| turning nuisance goods into economics oods |
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| founder of austrain school of economics |
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| choices are prompted by two contradictory ideas insatiability and _____ |
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| the satisfaction one gives up by not choosing what the second best or their alternative choice |
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| economic riddle that postulated a freegood or a good with a much lower intrinsic value could have molre subjective valure than an expensive gem or good with higher intrinsic value |
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| national unemoplotment is a topic that we would study in mircor economics tf |
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| subjective value means that hte worth of somethings is etermined by its utility to the buyer tf |
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| the word economy comes from the greek word for one who manages a household tf |
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| there is no free lunch tf |
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| bread can have a higher vaue than gold tf |
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| threre is only one economic value for every good tf |
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| a rational person always make the choice in which the oprotunity cost is greater than the opprotunity benefit tf |
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| money is the principle tool that we use to value commoditiess |
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Definition
which of the ofllowing principles is not the ten listed that we apparently should know
markets are usually a good way to organize
money is the principle tool that we use to value commoditiess
prices rise when the gov prints too much money
a country's standard of living depends upon their production |
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Definition
which of the following is an economic good
glasses
concert
toxic waste
a bank account |
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Definition
which of thefollowing men observed that households and firms interact in markets as if guided by an invisible hand
marx
menger
smith
keynes |
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